American billionaire and philanthropist, Bill Gates, says Nigeria’s economy has stagnated, adding that the country’s debt has exceeded 50% of its GDP for the first time since 2001 earlier in the year. ..Read Full Article
He said that even though the revenue-to-GDP ratio has grown, it’s still lower than what it was 15 years ago.
The result, according to him, is that Nigeria spends less per capita on its people than other African countries with a fraction of its wealth.
“Nigeria’s economy has stagnated. Earlier this year, your debt exceeded 50% of your GDP for the first time since 2001.
“And while your revenue-to-GDP ratio has grown, it’s still lower than what it was 15 years ago. The result is that Nigeria spends less per capita on its people than other African countries with a fraction of your wealth,” he said……Read Full Article
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